Bailed-out insurer American International Group (AIG) returned to the debt market Tuesday after more than a two-year absence, part of its strategy to raise capital as it works on various deals to pay back the government. AIG had said earlier …
New York City police officers were justified in shooting at an armed suspect on a Harlem street in 2005, a shootout that injured a mother and daughter playing nearby, New York’s highest court ruled. The officers had probable cause to …
A unit of French insurer AXA has sued an arm of Dutch insurer ING in New York state court, alleging ING misrepresented the financial health of a Mexican insurance company it sold to AXA in 2008. AXA said it has …
New York has eased some workers’ compensation insurance requirements for out-of-state businesses that do only occasional, non-construction work in the Empire State. The rule change comes after years of lobbying by agents and their trade groups in the state. The …
The estate of an Ecuadorean immigrant has filed a $40 million civil rights lawsuit that blames police inaction over prior violence for the man’s stabbing death during a confrontation with a mob of teens who had made a sport of …
The U.S. Treasury hired Greenhill & Co. to help it dispose of its investment in bailed-out insurer American International Group, which the Treasury will own 92.1 percent of from early next year. The 18-month contract is dated Nov. 18, though …
Ohio-based wholesale insurance broker and program administrator Breckenridge Insurance Services has acquired the assets of International Placement Services, LC (IPSICO), a wholesale insurance brokerage firm in St. Louis. Terms were not disclosed. The deal is the fourth for Breckenridge, which …
SAP AG must pay Oracle Corp $1.3 billion for software theft in a jury verdict that could be the largest-ever for copyright infringement. The decision, by a U.S. district court jury in Oakland California, drew a gasp from the courtroom …
New York-based Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on Novato, Calif.-based Fireman’s Fund Insurance Co. and its affiliates (collectively referred to as FFIC) to ‘A+’ from ‘AA-‘. The outlook on the ratings …
Angelo Mangia, president and CEO of Long Island, N.Y.-based Standard Funding, has been elected president of the National Premium Finance Association at its annual meeting in Charlotte, N.C., on Nov. 10. The National Premium Finance Association represents the nation’s largest …
